The “Switzerland of Southeast Asia” is widely known for its growth, stability, and prosperity. Our expatriate guide explains the economic driving forces behind the “Asian Tiger”. We also help you with daily monetary issues, from banking and living expenses to currency services and payment methods.
Despite the impact of recent financial crises, the attraction of Singapore’s economy remains unbroken. Although the island nation lacks both agricultural and other natural resources, its prime location in the Asia-Pacific region helped Singapore to become the original “Asian Tiger” state. In our overview of the economy in Singapore, we introduce the major industries of this strongly pro-business and free-trade environment. High-end manufacturing companies and plenty of R&D in the life sciences provide promising career opportunities for highly skilled local talent and well-qualified expatriates. Moreover, the service sector, with its strong focus on commerce and trade, shipping and storage, is what keeps Singapore’s economy going. Its well-developed finance and insurance industry is one of the reasons why the city-state has earned the nickname “the Switzerland of Southeast Asia”. The other reasons for this moniker are, of course, its internal peace and stability, as well as its general prosperity